Latest News

  • Home
  • Global
  • Coca-Cola Is Eyeing the Cannabis Market
Coca-Cola Is Eyeing the Cannabis Market
Tuesday, September 18, 2018 IST
Coca-Cola Is Eyeing the Cannabis Market

(Bloomberg) -- Aurora Cannabis Inc. led pot stocks higher after Coca-Cola Co. said it’s eyeing the cannabis drinks market, becoming the latest beverage company to tap into surging demand for marijuana products as traditional sales slow.

 
 

Coca-Cola says it’s monitoring the nascent industry and is interested in drinks infused with CBD -- the non-psychoactive ingredient in marijuana that treats pain but doesn’t get you high. The Atlanta-based soft drinks maker is in talks with Canadian marijuana producer Aurora Cannabis to develop the beverages, according to a report from BNN Bloomberg Television.
 
“We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” Coca-Cola spokesman Kent Landers said in an emailed statement to Bloomberg News. “The space is evolving quickly. No decisions have been made at this time.” Landers declined to comment on Aurora.
 
Aurora’s shares surged on the news, jumping as much as 23 percent Monday in New York to $8. Other stocks in the cannabis industry got a boost, with Tilray Inc. adding as much as 9.4 percent in response to Coca-Cola’s interest.
 
 
Coke’s possible foray into the marijuana sector comes as beverage makers are trying to add cannabis as a trendy ingredient while their traditional businesses slow. Last month, Corona beer brewer Constellation Brands Inc. announced it will spend $3.8 billion to increase its stake in Canopy Growth Corp., the Canadian marijuana producer with a value that exceeds C$13 billion ($10 billion).
 
 

 
 

Molson Coors Brewing Co. is starting a joint venture with Quebec’s Hexo’s Corp., formerly known as Hydropothecary Corp., to develop cannabis drinks in Canada. Diageo PLC, maker of Guinness beer, is holding discussions with at least three Canadian cannabis producers about a possible deal, BNN Bloomberg reported last month. Heineken NV’s Lagunitas craft-brewing label has launched a brand specializing in non-alcoholic drinks infused with THC, marijuana’s active ingredient.
 
Coca-Cola has already been diversifying as consumption of soda continues to decline. The company, with its iconic brands ranging from Coke and Sprite to Powerade, announced it will acquire the Costa Coffee chain for $5.1 billion in August, and has expanded into other products including juice, tea and mineral water over the past decade.
 
The discussions with Aurora are focused on CBD-infused drinks to ease inflammation, pain and cramping, according to the BNN Bloomberg report. CBD, or cannabidiol, is the chemical in the pot plant often used for medicinal purposes, and doesn’t produce the high that comes from THC, or tetrahydrocannabinol. There are no guarantees of any deal between Aurora and Coca-Cola, according to the report.
 

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
'Worse than prison': A rare look inside China's detention camps to 'brainwash' Muslims

ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...

Recently posted . 203K views . 1 min read
 

 Article
What The Shape Of Your Belly Button Says About Your Health

If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...

Recently posted . 9K views . 2 min read
 

 Article
Top 10 Horrifying Acts of Chemical Warfare and Gas Attacks

In this age of terror, there might be nothing more terrifying than the thought of an attack carried out with chemical weapons. We’ve all heard the horrific ...

Recently posted . 4K views . 4 min read
 

 Article
Top 10 Best Gym Equipment Brands in India 2018

Body fitness is one thing that everyone wants to maintain irrespective of age. Going to the gym and doing some great exercise always helps to maintain your body fit...

Recently posted . 4K views . 2 min read
 

 
 

More in Global

 Article
Which Is The Only African Country Where Hinduism Is The Dominant Religion?

In Mauritius, Hinduism is the religion of the majority.

Recently posted. 826 views . 0 min read
 

 Article
Super Blue blood moon and total lunar eclipse on January 31: How to watch, timings for India and more

Super blue blood moon 2018 takes place on January 31 and coincides with a lunar eclipse as well: So what is Super blue blood moon, total lunar eclipse and what ti...

Recently posted. 738 views . 1 min read
 

 Article
Scientist Killed By Pet Crocodile, One Of Her Hands, Abdomen

The crocodile had eaten one of the woman's hands and most of her abdomen was missing.  

Recently posted. 642 views . 0 min read
 

 Video
Top 10 Unbelievable Coincidences



Recently posted . 1K views
 

 Video
25 COMMON MISTAKES ALL GIRLS MAKE



Recently posted . 714 views
 

 Reviews
Leaseweb hosting review



Recently posted . 2K views . 67 min read
 

 Article
Confused about your weekend plans? 5 apps that will have you sorted

Here’s a checklist of 5 apps that will tell you about the events happening in your vicinity and the best spots to hang out with friends and family.

Recently posted. 554 views . 1 min read
 

 Article
Pakistan urges US to get it out of FATF grey list

ISLAMABAD: Pakistan has urged the US to support its bid to exit from the grey list of the FATF ahead of a key meeting of the international terror...

Recently posted. 674 views . 2 min read
 

 
 
 

   Prashnavali

  Thought of the Day

कामयाबी और नाकामयाबी दोनों ज़िन्दगी के अहम् हिस्से है, और दोनों ही किसी के जीवन में स्थायी नहीं हैं!!
Anonymous

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top